In a rather shocking update, Manchester City have been discovered to be bending their sponsorship agreements to gain a financial edge over other clubs.
In a very open attack towards the Manchester City management, German publication Der Spiegel have ‘exposed’ their wrongdoings behind the scenes. Their report shows how City continue to alter the sponsorship revenue to adjust their expenses and comply with Financial Fair Play regulations.
Der Spiegel is the same newspaper that covered allegations of rape against Cristiano Ronaldo by Kathryn Mayorga. A couple of days ago, the publication revealed how PSG and Manchester City had bullied the governing body to accept a measly settlement in lieu of their breach of the FFP regulations.
But, more damning evidence has been brought to light by the publication, who now claim that, to meet the FFP obligations and other financial needs of the club, Manchester City continue to bend the sponsorship rules. Their allegation is that Etihad, Aabar and Abu Dhabi tourism only pay a portion of the agreed amount from their own pockets.
The explanation provided is even more shocking. The report indicates that Manchester City owner Sheikh Mansour is responsible for equipping the aforementioned sponsors with the rest of the amount, which is first transferred to the said sponsor, who then pay it forward as revenue for Manchester City.
It is interesting to note that Der Spiegel have backed their claims with quotes from the emails they seem to have discovered, possibly through a leak similar to their breaking of the story of an Elite League.
One portion that particularly raises concern is the situation where Manchester City CEO Ferran Soriano suggests back-dating agreements and asking for prompt payment for the same. When Manchester City CFO Jorge Chumillas asks colleague Simon Pearce if they can alter the date of the agreement, he rather shockingly says, “Of course, we can do what we want.”
Obviously, these are rather shocking discoveries by Der Spiegel, which might have a whirlwind effect towards Manchester City and their practices. While Emirates have vehemently rejected the notion, stating that all the payments they make are their sole liability and contribution, the other two have not responded when asked for a response.
If anything, this will make the footballing world view Manchester City, their lavish spending and their behind-closed-doors practices in a different light and perhaps make the English FA and UEFA more vested in what goes on behind the scenes at Manchester City.
Der Spiegel article is just Part 1 of a series of four write-ups that will uncover the ‘Dirty Deals’ that Manchester City are involved in.